Angie's List Beats Profit, Sales Expectations

Angie's List Inc. reported on Wednesday a fourth-quarter profit that rose to $15.3 million, or 26 cents a share, from $2.8 million, or 5 cents a share, in the same period a year ago. Sales increased to $82.15 million from $68.76 million. The results beat the FactSet consensus analyst estimates for per-share earnings of 22 cents and revenue of $81.2 million. The website that helps connects consumers with service providers said total paid memberships jumped 22% to 3.04 million as of Dec. 31, marketing costs paid per paid membership acquisition fell 48% to $27 and participating service providers grew 28% to 51,614. The stock, which was still inactive in premarket trade, fell 15% over the past three months, while the S&P 500 has gained 2.4%.